Patrick Shields, a repo trader and Ireland soccer fan, watched his team qualify for the World Cup over a few beers at the pub. When the tournament opens, he'll follow Ireland's first game tomorrow over a bowl of cereal.
"At 7:30pm I'd be in the pub; at 7:30am? No," said Shields, who trades repurchase agreements at ABN Amro Holding NV in London. The time difference with Japan and South Korea will make Shields forego a tipple during the match.
Thousands of UK pub landlords, hoping other supporters won't flinch at the prospect of beers for breakfast, got licenses to sell alcohol at 7:30am and 10:30am, when two of England's and one of Ireland's opening games kick off.
Soccer's biggest competition typically boosts earnings every four years for pubs and makers of sportswear and flags. During the 1998 World Cup, held in France, pub revenue was an average 7 percent higher a week during the monthlong tournament, according to the British Brewers and Pub Association. Scottish & Newcastle Plc, Enterprise Inns Plc and others will be disappointed by the number of fans eager to quaff liquor before many are due at work.
"The 2002 World Cup just won't earn pubs pots of money like in previous tournaments," said fund manager Richard Power at Finsbury Smaller Quoted Companies Trust Plc. He owns shares in Regent Inns Plc and SFI Group Plc, the owner of "The Slug and Lettuce" bar chain. "The last place people will want to be at that time is at the pub." In April, Scottish & Newcastle won a case in the UK high court that overhauled laws banning drinking in pubs before 11am.
The UK's biggest brewer and rivals are banking on fans keeping going to the pub to cheer on the national side.
"People love watching England in pubs; it's like being in the stadium," said Alistair Darby, a retail director at Wolverhampton & Dudley Plc, the UK's No. 1 regional brewer.
Soccer fever will coincide with celebrations to mark the 50th anniversary of Queen Elizabeth II's ascension to the throne. The Center for Economics and Business Research Ltd estimates both events may sap as much as ?3 billion from the UK economy as employees either take time off or neglect their work. Still, those not in the office won't be found at the pub.
Jeff Alison, 53, was at his local pub in the northeastern town of Sunderland, when England beat Germany in 1966 to win the World Cup for the first and only time in the tournament's 72-year history. This time round he'll be on his couch with a cup of tea.
"The thought of having a pint first thing in the morning is not at all appealing," he said.
Some pub companies want to lure early customers without increasing their alcohol levels. Regent Inns and Pubs `n' Bars Plc are among businesses confident they can get round the unsociable hours by serving breakfast.
Britain's 15.2 million soccer fans, and the pubs eager to serve them drinks, are hoping England doesn't get knocked out. The closer England gets to the final, the bigger the crowds pubs can expect. When England reached the semifinal of the European Championships in 1996, pubs' sales rose an average 12 percent a week, figures from the BBPA show.
Still, the odds are stacked against the national side.
Bookmaker William Hill Plc rates England's chances of lifting the Jules Rimet trophy on June 30 at 11-1. The draw has also pitched England against joint favorites Argentina in its second game, with the possibility of facing holders France in the next round.
Tapping demand from company executives keen to entertain clients over a match and breakfast may be the best way to generate the highest profits from this year's tournament.
Gaucho Grill Plc, which has struggled to lure diners to its Argentine steak eateries after food scares, expects the tournament to fill tables at its restaurant off Gracechurch Street in the heart of London's financial district.
Laurence Smith, manager of the venue, is serving a buffet lunch to HSBC Holdings Plc bankers when England face Argentina on June 7. Five days later, traders from Lloyds TSB Bank will hope to toast a victory over Nigeria with a champagne breakfast.
Further west on London's Haymarket, the Sports Cafe, owned by the Coliseum Group Plc, says trading may double in June as it charges businesses as much as ?80 per person for breakfast.
Still, some pub owners say the tournament, held every four years and with 32 nations competing, won't help sales much.
"Pub owners are eternal optimists, but I don't think there will be that many people who want a couple of lagers at 7:30 in the morning, " said Tim Martin, founder of JD Wetherspoon Plc, which refuses to have TVs and music in most of its pubs.
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